Introducing Superblackhole (HOLE) the first intergalactic hyper-deflationary token with a 20% burn rate unlike ever seen before. An experiment that offers a new approach to store of value. Deflation. But let´s take it slowly.
One of the term people are familiar with is Inflation. Inflation occurs when new money is printed, usually to boost economy. With this process, the supply of a currency increases and so the value of it decreases with a simple reason there is more supply, where demand is not following it at the same speed. That is the reason why buying bread years ago would only cost you 0.10 USD, but today it is 1.00 USD and increasing overtime. Because new money is being printed and supply increases.
Being the opposite of inflation, deflation decreases the supply of a currency. This is not that common today and so Super Black Hole wanted to see what will happen when deflation is introduced in a bigger scale.
The Super Black Hole smart contract was created on 26th June 2019 on Ethereum blockchain. With the idea of deflation, the best way of starting the experiment was creating total supply that cannot be increased. To be exact – 2,500,000 HOLE tokens were initially created. Instead of mining/creating new tokens overtime, HOLE destroys them, thus decreases the total supply. More precisely, every time HOLE is transacted, 20% of it is destroyed.
If person “A” sends 1000 HOLE to person “B”, person “B” only receives 800 HOLE. Because the 20% (200) HOLE gets destroyed. This is programmed into the smart contract of Super Black Hole and cannot be reversed. Is it pre-destined to be destroyed, though? Using 18 decimal places makes it less likely to vanish completely and gives it much longer lifespan to decrease to a very low supply. With 18 decimal places, there can be transferred as little as 0.000000000000000001 HOLE, so the idea of vanishing completely is not that likely to happen. It is an experiment in the end.
As the transactions have occurred from day one, over 40% of the total supply has already been destroyed. Currently, there is around 1,434,400 HOLE tokens left from the total of 2,500,000. This number decreases as the community is willing to transfer and trade the tokens. HOLE had few bounty competitions for community engagement as a part of distribution. It is now available for trading on few decentralised exchanges.
Super Black Hole started as an experiment with no fundraising. 80% of the supply has been distributed across participants of the airdrop, so there is no central control over the supply of HOLE token. It is decentralised, open source and anyone can join or observe this journey.
Feel free to get on board with us. It is going to be an interesting ride. The team is experienced and open to any discussions, so anyone can join Super Black Hole´s social channels.
Name: Super Black Hole
Initial Supply: 2.5 million
Burn Rate: 20%